Stock Picks - Buy Epc Industries Ltd For Target Rs. 185 - ICICI Direct
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Technical Observations
* The stock has registered a resolute breakout above the falling supply line joining highs since June 2020 (| 194) as can be seen in the adjacent chart signalling resumption of the up move and offers fresh entry opportunity
* It has also registered a breakout above the last one months consolidating range of (| 168-151), thus opens upside towards | 185 in the coming weeks as it is the measuring implication of the last one months range breakout (168- 151=17 point) added to the breakout area of | 168 signals upside towards | 185 levels
* The breakout above the last one year long falling supply line is supported by strong volume of more than six times the 50 days average volume of 1.7 lakhs share per day highlighting larger participation in the direction of trend
* Among the oscillators, the daily MACD has recently generated a buy signal moving above its nine periods average thus validates positive bias
Buy Epc Industries Ltd @ 163.00-168.00 TGT 185 SL 155
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